GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 25.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 73,804 shares of the company’s stock after selling 25,537 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in GE HealthCare Technologies were worth $5,707,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEHC. First Command Advisory Services Inc. lifted its stake in GE HealthCare Technologies by 36,900.0% during the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock valued at $25,000 after purchasing an additional 369 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. ORG Partners LLC boosted its stake in shares of GE HealthCare Technologies by 174.2% during the 3rd quarter. ORG Partners LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 270 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth $29,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GEHC. Argus upped their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. HSBC started coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.09.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $86.24 on Wednesday. The business has a fifty day simple moving average of $88.84 and a 200 day simple moving average of $78.21. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50. The firm has a market cap of $39.35 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 2.93 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the company earned $1.31 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.97%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.